If we can do some work here in the low 40's this week and move up from there next week I'll get very bullish short term. We haven't had a positive MACD signal in quite some time (which it looks like we'll get tomorrow) and the times we did were off of very aggressive spikes, likely short covering. This looks like the first sign of actual sustained accumulation I've seen in over a year or 2.
What do you make of the 400K bid? Seems strange to me honestly. There's ways of not telegraphing how much you're trying to buy. I think we'll know more once it gets hit. What are the chances it's just some retail guy trying to invest $160K all in one order? Regardless there's other serious buyers accumulating here. Unfortunately the supply is still there..
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